Spot demand lifts chana rates in futures market by 1.48%

Chana prices were up by 1.48 % to Rs 4,949 per quintal in futures market today as participants strengthened positions, taking positive cues from spot market on upsurge in demand.

At the National Commodity and Derivatives Exchange, chana for delivery in December gained Rs 72, or 1.48 % to Rs 4,949 per quintal with an open interest of 50,200 lots.

Likewise, the commodity for delivery in January contracts traded higher by Rs 46, or 0.98 % to Rs 4,732 per quintal in 24,790 lots.

Analysts attributed the rise in chana prices to pick up in demand in the spot market against restricted supplies from producing belts.